It's probably safe to say that JPMorgan Chase CEO Jamie Dimon won't be the treasury secretary after all.
Wall Street has been abuzz for the past two weeks with speculation that the 60-year-old head of the largest U.S. bank by assets would run the Treasury Department for President-elect Donald Trump. CNBC reported on Nov. 10 that advisers close to Trump were suggesting Dimon for the vital Cabinet role.
However, a source speaking to NBC News said a Dimon appointment is not going to happen.
In fact, Trump "doesn't respect" Dimon, the source said, adding that the bank chief "was never under consideration" for the appointment and was not on "any Trump-approved list."
That may be just as well considering that the sources who initially spoke to CNBC had indicated Dimon wasn't interested anyway.
JPMorgan declined comment on the matter. Trump's representatives did not immediately respond to a request for comment.
In a September appearance at the Washington Economic Club, Dimon told the Carlye Group's David Rubenstein that he had little interest in the job.
"They really should get someone hugely qualified to help grow the American economy and negotiate with overseas and understand the critical role that business also plays in all of this," Dimon said.